Latest news with #EuroZone
Irish Times
13 hours ago
- Business
- Irish Times
Irish food prices second most expensive in Europe
Food prices in Ireland were 12 per cent above the EU average in 2024, making them the second most expensive in the euro zone. Ireland was the second most expensive country in both the euro zone and EU27 for alcoholic drinks, with prices of alcohol in Ireland just under double the EU27 average, according to fresh data from the Central Statistics Office . It was the most expensive country in Europe for non-alcoholic beverages last year, with prices 40 per cent higher than the EU27 average. Tobacco prices meanwhile were the most expensive of the 36 countries surveyed, at 159 per cent higher than the EU average. READ MORE The data shows Ireland was the third priciest in the euro zone for bread and cereals, and the sixth most expensive country for fruits, vegetables, and potatoes. Source: CSO It was the eighth most expensive country for both milk, cheese and eggs, and fish, the ninth most expensive for meat, and the twelfth most expensive for oils and fats. Of the 36 countries, the highest price levels for fish were observed in Switzerland (66 per cent above the EU27 average) and lowest in North Macedonia (24 per cent below the EU27 average). Fish price levels in Ireland were 5 per cent above the EU27 average. Of the euro zone countries, the highest fish price levels were observed in Austria and the lowest in Lithuania. Of the 36 countries, the level of fish prices in Ireland ranked 13th. While the price of bread and cereals in Ireland was 17 per cent above the EU27 average, the highest price levels were in Switzerland at 63 per cent above the average and the lowest price levels were observed in Romania where prices were 44 per cent below the mean. Of the euro zone countries, Luxembourg had the highest price levels for bread and cereals, 29 per cent above the EU27 average, and the lowest prices were in Slovakia, where they were 17 per cent below the average. Denmark was the most expensive while Romania was the least expensive in the EU27 for bread and cereals.
Zawya
2 days ago
- Business
- Zawya
Euro zone banks see rising loan demand despite trade standoff, ECB survey shows
FRANKFURT - Loan demand from euro zone firms rose last quarter despite a drag from geopolitical and trade tensions, and another increase is likely this quarter, the European Central Bank said on Tuesday based on a survey of the bloc's biggest lenders. Bank lending, the primary source of finance for businesses, has been slowly recovering for the past year as the ECB has cut interest rates quickly, and firms remained relatively upbeat about their prospects despite a trade standoff with the United States. "Loan demand was supported by declining interest rates, but dampened by global uncertainty and trade tensions," the ECB said based on a quarterly survey of 155 lenders. The ECB is all but certain to keep interest rates unchanged on Thursday but will keep the door open to further easing later this year, and markets still expect one more rate cut before the bank is done lowering borrowing costs. Credit standards - banks' internal guidelines or loan approval criteria - were unchanged for firms last quarter, despite earlier expectations for a modest tightening, and lenders see little change in the current quarter. While perceived risks related to the economic outlook continued to contribute to a tightening of credit standards, banks reported no specific additional tightening related to geopolitical uncertainty and trade tensions, the ECB added. Credit standards tightened in commercial real estate, manufacturing, wholesale and retail trade and construction, while they eased slightly across most services. Demand for housing loans continued to increase substantially last quarter and banks see a further rapid increase in the third quarter, the ECB added. Credit standards for mortgages tightened slightly but banks see a modest easing in the current quarter, the ECB added. In consumer credit, there was a more pronounced tightening of standards last quarter and banks see further tightening ahead.
Yahoo
2 days ago
- Business
- Yahoo
Euro zone banks see rising loan demand despite trade standoff, ECB survey shows
FRANKFURT (Reuters) -Loan demand from euro zone firms rose last quarter despite a drag from geopolitical and trade tensions, and another increase is likely this quarter, the European Central Bank said on Tuesday based on a survey of the bloc's biggest lenders. Bank lending, the primary source of finance for businesses, has been slowly recovering for the past year as the ECB has cut interest rates quickly, and firms remained relatively upbeat about their prospects despite a trade standoff with the United States. "Loan demand was supported by declining interest rates, but dampened by global uncertainty and trade tensions," the ECB said based on a quarterly survey of 155 lenders. The ECB is all but certain to keep interest rates unchanged on Thursday but will keep the door open to further easing later this year, and markets still expect one more rate cut before the bank is done lowering borrowing costs. Credit standards - banks' internal guidelines or loan approval criteria - were unchanged for firms last quarter, despite earlier expectations for a modest tightening, and lenders see little change in the current quarter. While perceived risks related to the economic outlook continued to contribute to a tightening of credit standards, banks reported no specific additional tightening related to geopolitical uncertainty and trade tensions, the ECB added. Credit standards tightened in commercial real estate, manufacturing, wholesale and retail trade and construction, while they eased slightly across most services. Demand for housing loans continued to increase substantially last quarter and banks see a further rapid increase in the third quarter, the ECB added. Credit standards for mortgages tightened slightly but banks see a modest easing in the current quarter, the ECB added. In consumer credit, there was a more pronounced tightening of standards last quarter and banks see further tightening ahead. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
2 days ago
- Business
- Reuters
Euro zone banks see rising loan demand despite trade standoff, ECB survey shows
FRANKFURT, July 22 (Reuters) - Loan demand from euro zone firms rose last quarter despite a drag from geopolitical and trade tensions, and another increase is likely this quarter, the European Central Bank said on Tuesday based on a survey of the bloc's biggest lenders. Bank lending, the primary source of finance for businesses, has been slowly recovering for the past year as the ECB has cut interest rates quickly, and firms remained relatively upbeat about their prospects despite a trade standoff with the United States. "Loan demand was supported by declining interest rates, but dampened by global uncertainty and trade tensions," the ECB said based on a quarterly survey of 155 lenders. The ECB is all but certain to keep interest rates unchanged on Thursday but will keep the door open to further easing later this year, and markets still expect one more rate cut before the bank is done lowering borrowing costs. Credit standards - banks' internal guidelines or loan approval criteria - were unchanged for firms last quarter, despite earlier expectations for a modest tightening, and lenders see little change in the current quarter. While perceived risks related to the economic outlook continued to contribute to a tightening of credit standards, banks reported no specific additional tightening related to geopolitical uncertainty and trade tensions, the ECB added. Credit standards tightened in commercial real estate, manufacturing, wholesale and retail trade and construction, while they eased slightly across most services. Demand for housing loans continued to increase substantially last quarter and banks see a further rapid increase in the third quarter, the ECB added. Credit standards for mortgages tightened slightly but banks see a modest easing in the current quarter, the ECB added. In consumer credit, there was a more pronounced tightening of standards last quarter and banks see further tightening ahead.
Yahoo
3 days ago
- Business
- Yahoo
Foreign investors buy nearly 100 billion euros of euro zone bonds in May, Citi says
By Yoruk Bahceli LONDON (Reuters) -Euro zone bonds saw nearly 100 billion euros ($116.4 billion) of buying from outside the bloc in May, Citi said citing European Central Bank data, the latest sign that euro assets are benefitting from a shift away from U.S. markets. The 97 billion euros of net inflows into euro zone bonds with maturities longer than one year was the largest on a monthly basis since at least 2014, Citi said, pointing to portfolio flow data from the ECB. "This could potentially be due to substitution out of dollar assets," the bank's analysts said in a note to clients on Monday. Allocation away from U.S. to European assets has been a big theme across financial markets in 2025, so investors are looking for data indicating to what extent such a move is taking shape. U.S. President Donald Trump's confrontations with longstanding allies over trade and security, along with attacks on the Federal Reserve, have raised concerns around the safe-haven status of U.S. Treasuries this year. Euro zone bonds have traded more steadily, boosting their appeal to investors as an asset perceived to be safe. U.S. 30-year yields are up 40 basis points since April 2, when Trump announced his "Liberation Day" tariffs, while German equivalents are up fewer than 20 basis points. Citi however noted the May inflows followed 12 billion euros of foreign investor outflows from the bloc's debt in April, which they said could be explained by broad de-risking in the wake of Liberation Day. "All in, therefore, we would watch out for the June data, released on 18th August, to draw any conclusions," the analysts said. ($1 = 0.8592 euros) Effettua l'accesso per consultare il tuo portafoglio
